Quick note: OSIS reports earnings on 4/26. Earlier under Market Digest thread I mentioned today 1400 calls have traded vs. only 30 puts. Call volume is 5x daily average. 93% calls bought offer side. IV spiking by 26%. Biggest blocks came in at May $30 calls paying $0.90. There is frequent buyout chatter in this name.
Strictly following the unusual activity, I am buying the following call spread in June:
- Buy to open June $30 calls - Sell to open June $35 calls
I just filled the order for average price of $1.20.
I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.